Dollar Tree recently reported third quarter results showing that the discounter is wooing shoppers with value prices on groceries and art supplies.
Dollar Tree is making some major organizational changes as the company looks to improve operational performance at its Dollar Tree and Family Dollar business segments.
The company announced that Duncan Mac Naughton, president of Family Dollar, is leaving the company.
“I want to thank Duncan for his efforts in leading the Family Dollar team,” said Gary Philbin, CEO of Dollar Tree Inc. “We wish him the best in his future endeavors.”
Mac Naughton led merchandising at Walmart and had other retail posts before being hired to run Family Dollar. But that banner's performance has lagged.
In other moves, the company has promoted Michael A. Witynski to enterprise president of Dollar Tree Inc. and will lead the merchandising, store operations and supply chain functions for the Dollar Tree and Family Dollar business segments. His principal focus will be on improving enterprise-wide operational efficiency and reducing distribution costs across both store brands.
Richard L. McNeely has been promoted to chief merchandising officer of Dollar Tree Inc., and will lead the merchandising, marketing and global sourcing functions for the Dollar Tree and Family Dollar business segments. His primary focus will be on improving enterprise-wide merchandising margins while improving value for the customer.
Thomas R. O’Boyle Jr. has been promoted to chief operating officer of Dollar Tree, Inc., and will lead the store operations and real estate functions for the Dollar Tree and Family Dollar business segments. Among other things, he will be focused on optimizing real estate, improving customer experience and addressing recent issues around inventory shrink.
“These and other actions we are taking are designed to increase enterprise-wide focus and accountability,” Philbin added. “With Mike, Rick and Tom, we will have our senior-most talent working together across the platform with more urgency to move the needle on metrics that will help us deliver greater value for our shareholders and customers.”